Chesapeake, Encana face criminal antitrust charges in Michigan
(Reuters) – Oil and gas giants Chesapeake Energy and Encana Corp. were charged on Wednesday with colluding to keep oil and gas lease prices artificially low in the state of Michigan, the state Attorney General Bill Schuette said.
Exclusive: DirecTV in talks with Disney on deal for Internet rights
(Reuters) – DirecTV is in talks with Walt Disney Co to license the rights to offer Disney’s broadcast and cable channels as part of an Internet-based product, mirroring a first-of-its kind agreement that Disney and satellite rival Dish Network announce…
ECB set to act against low inflation, hold fire on bolder steps
FRANKFURT (Reuters) – The European Central Bank is expected to hold off on cutting interest rates on Thursday, opting instead to loosen lending conditions to fight off the danger of debilitating low inflation.
EBay CEO says top shareholders agree PayPal should stay put
NEW YORK (Reuters) – EBay Inc CEO John Donahoe said on Wednesday that several of the online retailer’s most active shareholders have assured him they support his efforts to resist demands by activist investor Carl Icahn for a spin-off of the PayPal uni…
SEC orders New York firm to pay record $7.2 million sanction
WASHINGTON (Reuters) – A New York proprietary trading firm and its owner will pay $7.2 million to settle civil charges in what U.S. regulators said on Wednesday marks the largest sanction they have ever imposed for certain short-selling violations.
Frauds or fibs? Ex-Jefferies trader’s fraud case goes to jury
NEW HAVEN, Connecticut (Reuters) – Prosecutors said greed motivated former Jefferies Group Inc trader Jesse Litvak to defraud the government on mortgage securities, while defense lawyers said their client’s “fibs” were perfectly acceptable, during clos…
S&P 500 closes flat, near record; Ukraine in focus
NEW YORK (Reuters) – The S&P 500 finished almost flat on Wednesday, a day after closing at an all-time high, as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine.
Darden cancels investor meeting as activists turn up heat
LOS ANGELES (Reuters) – Darden Restaurants Inc has canceled its analyst and investor meeting slated for later this month as two activist shareholders lobby for bolder steps to improve performance at its chain eateries, ranging from Olive Garden to Capi…
Compliance chief quits Deutsche Bank after watchdog pressure
FRANKFURT (Reuters) – Deutsche Bank’s global head of compliance, Andrew Procter, will leave to work for law firm Herbert Smith Freehills after German regulator Bafin put pressure on the bank to make changes in senior personnel.
China rural mini-bank run exposes perils of deregulation
YANCHENG, China (Reuters) – Depositors wanting to withdraw money from a rural bank in eastern China’s prosperous Jiangsu province ahead of the Lunar New Year holiday found the doors locked, their money gone and employees offering a simple explanation.
